Institutions launch new tools to support youth entrepreneurship

According to the information provided by the portal, young talents with innovative ideas gathered in the auditorium of Sofia University “St. Kliment Ohridski”, the final event of the project “Incubators for Innovative Enterprises”, funded by the Erasmus+ program of the EU, aiming to empower them with further knowledge and entrepreneurship. European Digital Innovation Hub “Trakia”, a strategic partner of the event, awarded special prizes and vouchers to project participants for free access to a full package of digital services in the cybersecurity sector, including training modules.

The project is being executed in partnership between the Association for International Social Development (AISD), the Fund of Funds (FF), and Sofia University “St. Kliment Ohridski” in 10 cities across the country – Vratsa, Svishtov, Ruse, Gabrovo, Varna, Burgas, Plovdiv, Stara Zagora, Blagoevgrad, and Sofia. Vadim Roshmanov, the chairman of AISD, emphasized the project’s significance, noting that they reached 225 young people aged between 15 and 30, who received knowledge and certificates. Additionally, they signed 10 agreements with representatives of universities in Burgas, Ruse, Plovdiv, Blagoevgrad, and Stara Zagora.

Dochka Vasileva, Head of the Project Information and Financing Division at the Fund of Funds, announced that a financial instrument specifically designed for students and PhD students startups is currently in the planning process. According to her, the new instrument will likely launch within one to two years and is expected to fund more than 220 student and PhD startups.

In addition, another technology transfer instrument is being prepared that will support research developments from the initial phase to commercialization. Young enthusiasts are encouraged to explore the opportunities provided by the Fund for the Promotion of Youth Entrepreneurship and to participate in the national youth startup competition organized by the Fund of Funds and the Faculty of Economics of Sofia University.

Assoc. Prof. Todor Yalumov, Deputy Dean of the Faculty of Economics, emphasized the importance of youth entrepreneurship in Bulgaria, citing the results of a study showing that Bulgaria is ranked first in Europe in this indicator. He urged young people to view every surprise as a business opportunity and to overcome barriers by turning them into opportunities for development.

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